BioLight Eyes Chinese Glaucoma Market, Raises US$5.5 Million

Israeli investment group BioLight has raised US$5.5 million and plans to move into the world’s largest glaucoma market, China.

AsianScientist (Mar. 11, 2014) – BioLight Israeli Life Sciences Investments Ltd., a firm that invests in, manages and commercializes biomedical innovations grouped into clusters around defined medical conditions, has successfully completed an equity financing that raised gross proceeds of approximately US$5.5 million.

Separately, BioLight subsidiary IOPtima Ltd., a developer of minimally invasive ophthalmic surgery devices, received China Food and Drug Administration (CFDA) approval to market and sell the IOPtiMate™ system in China, the world’s largest glaucoma market.

The IOPtiMate™ system is a novel surgical device that enables eye surgeons to perform accurate CO2 Laser-Assisted Sclerectomy Surgery (CLASS). The CLASS procedure reduces elevated intraocular pressure (IOP) in glaucoma patients by thinning the sclera of the eye, thus restoring the natural fluid percolation without penetrating the eye globe. The system transforms complex and highly risky glaucoma surgery into a safe and precise laser-assisted procedure.

Suzana Nahum-Zilberberg, BioLight’s CEO, said, “The proceeds of this financing, as well as the marketing approval recently received in China, will assist in expanding the marketing and sales activity of the IOPtiMate™ system. These funds will also enable us to advance additional promising products into clinical trials,” she said.

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Source: BioLight.

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